China consumer prices buoyed by oil price surge and Lunar New Year
Joe Leahy
Beijing | Chinese consumer prices bounced back in February, rising at their fastest pace in more than three years due to Lunar New Year celebrations and surging oil prices, while deep deflationary pressures in industry showed signs of easing.
A rise in oil prices due to “geopolitical” factors and intense spending on AI-related electronics and other industries also helped boost prices, China’s National Bureau of Statistics said on Monday.